MILWAUKEE (AP) — The lakeside festival that draws hundreds of thousands of people to downtown Milwaukee each summer has canceled the event after earlier moving it to September.

Summerfest officials said Thursday that out of an “abundance of caution” for fans, artists, vendors and staff, the event will not take place this year.

Summerfest CEO Don Smiley says staff explored numerous options to operate the festival in a safe manner in light of the coronavirus outbreak, but could not find acceptable alternatives.

Summerfest, which bills itself as the world’s largest music festival, said it has a $186 million economic impact annually. Organizers were to unveil the new $53 million American Family Insurance Amphitheater during the festival this year.

Summerfest, which began in 1968, is held at Henry Maier Festival Park, adjacent to Lake Michigan. It draws 800,000 to 900,000 people each summer.